July 26, 2023 – The Chamber of Digital Commerce is pleased to see that H.R. 4763, “The Financial Innovation and Technology for the 21st Century Act” has passed markup and is on its way to the House floor.
The Act establishes a digital asset market structure framework appropriate for the unique characteristics of digital assets. This functional framework will provide clear rules of the road for market participants and protect investors and consumers.
During markup, Chairman McHenry pointed out that this bill has been the work of bipartisan efforts across weeks, and The Chamber is proud to have been part of those discussions.
Critics of the Act said that it will cause more confusion in the digital asset world, but with its layout of a regulatory framework, it provides clarity so that investors and consumers are protected.
“This Act provides a way forward for the digital asset industry that has previously not been available,” said Cody Carbone, Vice President of Policy at The Chamber. “We applaud Chairman McHenry, Congressman Thompson, Congressman Hill, and Congressman Johnson for their leadership to bring clarity to the digital asset industry.”
**Chamber experts are available for comment. Contact press@digitalchamber.org to schedule an interview.**